Pimco CEO says not yet buying Greek and Irish bonds

Mohamed El-Erian, chief executive of the Pacific Investment Management Company (Pimco) which runs the world's biggest bond fund, said on Friday he was not yet buying Greek and Irish government debt.

El-Erian, who helps oversee more than $1.1 trillion in investments, told a conference in Munich on a panel with Germany's finance minister and a European commissioner, that he first wanted to see more solvency support for these euro zone countries and more competitiveness to help them grow.